With China's Big Four in Focus,
Small Bank Merits a Closer Look

HONG KONG -- Most investors keen on Chinese banking are thinking big, with an eye out for shares of two massive state-owned banks coming to market this year. But it may be worthwhile to think smaller.

China Merchants Bank, which is far smaller than the country's Big Four banks, is already listed in Shanghai but plans an initial public offering of stock in Hong Kong by September that's expected to raise about $2 billion. Bank of China,...